California Code of Regulations
Title 16 - Professional and Vocational Regulations
Division 13.7 - Acupuncture
Article 7 - Acupuncture Corporations
Section 1399.477 - Shares: Ownership and Transfer
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
(a) Where there are two (2) or more shareholders in an acupuncture corporation and one (1) of the shareholders:
(b) A corporation and its shareholders may, but need not, agree that shares sold to it by a person who becomes a disqualified person may be resold to such person if and when the person again becomes an eligible shareholder.
(c) The share certificates of an acupuncture corporation shall contain an appropriate legend setting forth the restrictions of subsection (a).
(d) Nothing in these regulations shall be construed to prohibit an acupuncture corporation from owning shares in a nonprofessional corporation.
1. Amendment
of subsection (f) filed 8-5-81; effective thirtieth day thereafter (Register
81, No. 32).
2. Amendment filed 10-14-83; effective thirtieth day
thereafter (Register 83, No. 42).
3. Change without regulatory
effect amending section filed 4-22-2022 pursuant to section
100, title 1, California Code of
Regulations (Register 2022, No. 16).
Note: Authority cited: Sections 4933 and 4979, Business and Professions Code. Reference: Sections 4977.1 and 4979, Business and Professions Code; and Sections 13401, 13403, 13406 and 13407, Corporations Code.